What's All the Buzzzzz Around San Diego ?
There is a lot of Buzz around San Diego these days. Spring is the air for one thing. And the whole county of San Diego is flush with color everywhere in all the flowers, thanks to the significant rains we had earlier this year. And there is more Buzz that says we are well engaged in the Spring Real Estate cycle and there is lots of activity. The market is showing resilience in not only price but also in the number of sales.
In the recently released Case-Schiller report, the San Diego Home Price Index rose .4%. from December 2009 through January 2010.The range in scores for the Month over month report designated Washington DC with the highest score of 178.02 and Detroit with 71.82. San Diego came blistering in with 156.95 up over .4%. Considering where we were just 3 years ago, San Diego is clearly in rebound mode. The year to year average sales price for San Diego through March 2010 has gone up 5.9%.
Reports like this after seeing our markets change so drastically over the past few years is welcome news and frankly, it is generating a lot of Buzz. Another bit of a caveat though is that the mortgage rates are inching higher, the Federal Tax Credit for new and move-up Buyers deadline of April 30th to get your purchase under contract is closing in. There is also evidence that we are getting some some sprinkles of new inventory as the San Diego Spring Real Estate market comes into full bloom.